econ theory - is that it IS indeed 'sensible' at a theoretical level ONLY - but actual persons' employment of the methodology is so often nefarious! Ex.

the virtual drumbeat of the mantra (at least since Reagonomics coined itself, in the hyper-mumbo-jumbo we all know so well) of deregulation re This and That, all so *indiscriminately*.

When a principle which possesses some utility (dereg) in the general scheme - becomes a tawdry slogan, such as results in the chaos of last year - then the overall complexity of that model we call 'Econ' helps to bury an intentional aberration. This weakens a necessary 'small faith' that is needed to trust any practitioner of the Dismal Science.

S/He then seems to be more an acolyte than a sorta 'scientist'.. y'know? Look at the High Priest hisself, who seems to go about pulling rabbits out of hats, largely via the bestowed power, single-handedly to decree in any next scare:

The exact delta-% in Fed int. rates as shall save us from ___ each new unpleasantness. I submit this is more akin to magic than either principle or practice.

re The Unpleasantness at the Belonna Club, last year:
Those ever-so-Conveniently er offline due to umm 'normal maintenance powerplants - a Passel of Those - which were the seeming 'accident' that precipitated the unconscionable "free market gouging" du jour: that situation was so patently ripe for premeditation! Tell me how many believe otherwise? 50? 5?

As to 'all biz all the time' - that wasn't directed at your personal philosophy (how could I know that? all I see is your general advocacy of the brilliance of Market theory). 'Deregulate' / 'Privatize' are perennial major Slogans - virtually planks! for one of the twin-parties of-little-difference.

Further - it is tacitly accepted that these are conservative notions (!) - casting further doubt about what 'conservative' might still mean, to more than a handful of people who speak in tongues (?)

There's something of language murder occurring when - 'Economics' itself, a kind of discipline and art with pseudo-scientific underlayment (?) becomes associated with *A* political party's sloganeering - doncha think?

My view is that we'd best separate out the pseudo-science that works.. from the political cant which does not convince. I think this means:

Finding and filling those massive loopholes in Corp law, such as have made the Golden Parachute a regular *fact* of Corp life / simultaneous comic ridicule, and have made the law appear both impotent and heavily biased for The Rich\ufffd. This farce began before the S&Ls, before Chainsaw Whatsisname.. and on through the bailed multimillionaire Enron Rats of the hour.

This joint failure of Economists to note how their theories are predictably exploited for the fun & profit of quite few + the failure of Politicians to attend to the ludicrous charade that pretends that Corporate leaders are subject to normal 'justice' - is ~ a doomsday scenario IMhO.

Does anybody honestly imagine that our 'checks and balances' are today any more than sophist rhetoric? Where The Fuck is this vaunted Responsibility.. so beloved of bombastic Patriot-speak? Huh??



Ashton
*THAT'S* what pisses me off about the Dismal practitioners, ever so tacit, if not quite taciturn - as the Pols turn velocity of money into an object of worship :(

(And yes! it IS a *RESPONSIBILITY* to notice what others do with one's 'theroretical Rxs': after so many dead patients / exonerated crooks -- and change the language of the 'advice'. IMhO.)